Infranode enters the Norwegian market through an acquisition of a 33% ownership stake in Akershus Energi Varme

Infranode I has completed its third investment through an acquisition of 33% of the shares in the district heating company Akershus Energi Varme AS (“AEV”) from Akershus Energi AS (“AE”).

“This investment represents the essence of our investment strategy; a strongly aligned co-ownership with a municipal owner, a bilateral off-market process and confirmation of our Nordic focus by way of our first transaction in Norway. Having worked closely with AEV over the last few months we have become impressed by the management and operations of the company and are confident in their ability to execute on the company’s growth focused business plan.” says Philip Ajina, Founding Partner of Infranode.

Akershus Energi AS is a mid-sized utility located in, and owned by, Akershus County east of Oslo. AE’s two main business areas are hydropower and district heating. Akershus Energi Varme AS has concessions in Lillestrøm (one of the most modern district heating facilities in Europe), Lørenskog, Skedsmokorset, Sørumsand and Årnes. Current annual production amounts to ca. 160 GWh (normal weather) with significant growth potential linked to the expected population growth in the region where greater Oslo is currently one of the fastest growing areas in Europe.

“With Infranode as a co-owner AEV will be strengthened financially, and we get a professional and growth oriented co-owner” says Jørn Myhrer, CEO of Akershus Energi. “We have been looking for a partner to strengthen our district heating business for a long time and are very pleased to see that it is Infranode that becomes our co-owner.” Myhrer adds.

“The high sustainability factor and strong growth prospects of the investment are attractive features for our investors.” says Christian Doglia, Founding Partner of Infranode.

Infranode was advised by Pöyry, Wiersholm and Deloitte



Philip Ajina, Founding Partner, Infranode


+46 70 755 99 78

Christian Doglia, Founding Partner, Infranode


+46 73 320 74 87



Infranode is a Sweden based investment platform founded in 2013 with focus on long-term investments in infrastructure in the Nordics ( Infranode has a capital base of ca SEK 3.55 billion from investors including EIB, Swedish insurance company and pension investment manager Folksam, Swedish municipal sector insurance and pension company KPA Pension, IMAS foundation as well as Finnish non-life, life, and pension insurance company LocalTapiola. Infranode was founded in partnership with Areim, an established Sweden based real estate investment manager and investment advisor (